May 26, 2005
STATEMENT FROM SECRETARY ALPHONSO JACKSON ON H.R. 1461, THE FEDERAL HOUSING FINANCE REFORM ACT OF 2005
"The Administration appreciates the efforts put forth by Chairman Oxley to create a strong and credible regulator for the housing GSEs - Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Today's meeting of the House Financial Services Committee brings us one step closer to achieving a world-class regulator and strengthening the ability of the GSEs to serve low- and moderate-income families pursuing affordable housing.
"As currently amended, H.R. 1461 improves upon past legislative efforts in Congress; however, the Administration is concerned that some core principles, essential to ensuring the GSEs fully carry out the mission granted to them by Congress of promoting affordable housing and homeownership, have not been included.
"I will continue to monitor progress as the legislative process moves forward to ensure that the GSEs' housing mission is focused on expanding housing opportunities to low- and moderate-income Americans.”
HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities, and people living with AIDS. The Department also promotes economic and community development as well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.